Nomura Holdings Reiterates a Sell Rating on Noble Corp

In a report released today, Matthew Johnston from Nomura Holdings reiterated a Sell rating on Noble Corp (NYSE: NE), with a price target of $4. The company’s shares closed yesterday at $4.74, close to its 52-week low of $4.45.

According to TipRanks.com, Johnston is a 4-star analyst with an average return of 5.0% and a 61.7% success rate. Johnston covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Parker Drilling Company.

Currently, the analyst consensus on Noble Corp is Moderate Sell and the average price target is $4.83, representing a 1.9% upside.

In a report issued on November 3, J.P. Morgan also reiterated a Sell rating on the stock.

The company has a one year high of $14.31 and a one year low of $4.45. Currently, Noble Corp has an average volume of 11.02M.

Noble Corp. Plc engages in offshore drilling services for oil and gas industry. It provides contract drilling services, which including owns and operates mobile offshore drilling units, and floating production storage and offloading unit. The company was founded by Lloyd Noble and Art Olson in 1921 and is headquartered in London, United Kingdom.